Eco drive: Exxon Mobil has appointed two activist investors to the board
Exxon Mobil has appointed two activist investors to the board amid pressure for the firm to reduce its carbon footprint.
Michael Angelakis, chief executive of investment firm Atairos and a former chairman of the Philadelphia Federal Reserve, and Jeff Ubben, head of Inclusive Capital Partners, will join the board of America’s biggest oil company.
Ubben is a renowned green investor and he founded Inclusive in 2020 alongside Lynn Forester de Rothschild, a high profile climate change activist.
Ubben has agitated for changes at companies such as Rolls-Royce and Microsoft and generally avoids public battles.
Exxon earlier this year committed £2.2billion in ‘lower emissions solutions’ over the next four years, but many do not think this goes far enough.
Unlike UK rivals, Exxon – which in February posted its first annual loss in decades – remains committed to increasing oil production.
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